BGK signed a guarantee agreement with the European Commission under the EFSD+ instrument

Bank Gospodarstwa Krajowego signed a guarantee agreement with the European Commission under the EFSD+ (European Fund for Sustainable Development) instrument to support the financing of investment projects in the digital sector in Sub-Saharan Africa. BGK has received a guarantee allocation of EUR 115 million from the European Commission, which will generate over EUR 170 million in investments.

The signed agreement will enable BGK to provide debt financing for projects which, without EU guarantees, would not be able to obtain loans due to high investment risk. The support will cover ICT investments, including e-services and management systems in the public sector, cybersecurity, digital innovation centres, online educational platforms, a digital exchange for farmers, the assembly of unmanned aerial vehicles (UAVs) and satellite vision services.

We hope that this instrument will support the efforts of Polish technology companies, which are increasingly seeking opportunities to implement such projects in Africa. BGK has already begun talks with investors about specific activities in several African countries.

Prof. Marta Postuła, First Vice-President of BGK

EFSD+ is a European Union guarantee mechanism that reduces risk in high value-added investment projects. It primarily targets sectors that face barriers to financing or are characterised by higher levels of risk. The EFSD+ guarantee supports investments in partner countries that, among other things, reward the creation of decent jobs, strengthen public and private infrastructure, support renewable energy sources and sustainable agriculture, and promote the digital economy.

The EFSD+ initiative aims to mobilise up to €135 billion in public and private financing to help partner countries achieve the Sustainable Development Goals (SDGs).